SCIO Health Analytics, a provider of actionable healthcare analytic solutions, was named on the 2014 Inc. 5000 list of fastest-growing private companies for the third consecutive year.

The company received a ranking of 1,055. In addition, SCIO was also named among the top 20 Connecticut companies, ranking eighth.

"We are proud and honored to once again be included on this prestigious list of companies," said Siva Namasivayam, chief executive officer of SCIO Health Analytics. "Our inclusion proves that there continues to be a growing need for the solutions we offer – from care and risk management and payment integrity, to consumer and employer, and network and provider."

Inc. magazine president and editor-in-chief, Eric Schurenberg, said: "For 33 years, Inc. has welcomed the fastest-growing private companies in America to a very exclusive club. The average company on the list grew a mind-boggling 516 percent. Those are results most businesses could only dream of."

Namasivayam cited a recent report that stated the market for healthcare analytics is projected to increase at a 25 percent compound annual growth rate between 2014 and 2019.

"We believe the company is positioned to leverage the growing demand for our actionable, technology-enabled solutions as healthcare mandates such as the Affordable Care Act, ICD-10 and Meaningful Use further drive the use of analytics in healthcare."